Through its subsidiaries Communications & Power Industries LLC and Communications & Power Industries Canada Inc., CPI is a global manufacturer of electronic components and subsystems focused primarily on communications and defense markets. The company is headquartered in Palo Alto, California, and has significant manufacturing and engineering facilities throughout the United States and Canada, as well as a number of sales, service and engineering offices in other countries serving customers around the world. As of the end of fiscal 2016, CPI generated $495 million in annual sales and had approximately 1,900 employees.

The transaction, which is subject to customary regulatory and other closing conditions, is expected to close in the second half of 2017. The transaction is not subject to any financing conditions.